Solutions

May 11, 2016

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Organizations are facing increased regulatory and compliance burdens in a rapidly changing complex business environments. Risk and compliance burdens are growing in number and complexity, bearing down fines and/or censure on the organization and its management. Economic uncertainties are forcing executives to refocus on corporate governance, risk and compliance (GRC) across all industries.

The challenge: How can businesses cope with ever increasing volume of complex inter- linked regulations that are changing constantly?

The siloed approach of a periodic snapshot and yesterday’s compliance programs no longer work. Executives globally are under intense pressure from all stakeholders to transform their operations to enhance performance whilst driving down costs and investment. Annual audits are no longer sufficient, rapidly evolving businesses require continuous monitoring of the risk and compliance oversight.

The challenge: How can businesses deliver continuous monitoring whilst reducing cost and investment?

Management and Boards require a single view of risk that is articulated across the entire organization, providing a common taxonomy, approach, and methodology for risk management. Centralized monitoring, measuring, and managing risk strengthens governance processes and facilitates effective and inclusive risk reporting to help meet global compliance. It enables oversight functions to better leverage risk information and rate issues using a common vision, benefitting all stakeholders, particularly internal audit and other assurance functions.

The challenge: How can businesses provide a common monitoring platform and improve oversight?

Maclear eGRC Suite™

Maclear’s enterprise, governance, risk and compliance (eGRC) suite is a unique next-generation software solution based on a programmatic approach to risk management that is fully integrated; enabling companies to meet all the above challenges. It is a modular, agile solution providing transparency into enterprise-wide risk posture. A suite of GRC applications built on a highly configurable and extensible software platform provides the necessary foundation to break down the enterprise silos by leveraging a common GRC data repository, framework and taxonomy, while supporting incremental adoption.

The Maclear eGRC Suite™ enables businesses to quickly address immediate pain points, mitigate risk, manage the complexity of the dynamic modern regulatory & compliance environment, industry standards, and internal policies; provide an audit trail and a real time holistic view of the organizations governance, risk and compliance

In addition to managing compliance and risk initiatives, the solution arms decision makers with tools to fully understand and interpret valuable business data regarding internal assets, interdepartmental operations, the status and impact of broad company initiatives, and other key metrics that sustain organizational value and growth.

Maclear’s software technology enables effective monitoring in the form of dashboards, macro-level analysis and automated work flows for reporting, assessments, remediation and recovery management. It also provides for operational support through configurable controls monitoring, access automation technologies, tests, and transaction analysis. Audit capabilities are addressed via history logs, test questionnaires and assessments.

A low-risk, high-impact approach to eGRC automation that allows for a consistent set of information on risks, issues, mitigating actions, and their organizational impact to be analyzed and reported in a timely and consistent manner, establishing a baseline for common communications with the board.

A common eGRC framework and software platform across the finance, operations, engineering, quality, and other organizational silos improves visibility, reduces liabilities, and drives better business performance.With greater visibility and control over risk across their business, organizations can gain a real competitive advantage, enabling them to make business decisions in alignment with their strategic objectives and risk tolerance.

Core modules of Maclear eGRC Suite™:

This comprehensive suite is designed to increase transparency and collaboration across business units, enabling organizations to:

  • Identify, manage, monitor, and analyze risk across the enterprise in a single integrated solution.
  • Automate risk management and compliance processes to meet the persistent challenge of regulatory change and regulator interaction.
  • Leverage GRC data to prioritize investments across the company.
  • Empower decision makers with fully scalable interactive reporting, decision support, and forecasting tools.

Agile design and innovative approach using drag & drop functionality which requires no coding knowledge and open architecture to minimize follow on change costs.

Maclear eGRC Suite™ is a versatile product that can help expand or enhance your existing third party supported GRC program by interfacing with or uploading information generated by most product suites.

Not too long ago the use of technology to support GRC was an option, but no longer. Today, the thoughtful application of technology solution like Maclear eGRC Suite™ is essential to achieve better business performance.